Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal activity of THE LYNX CROSSING APARTMENTS, INC., HUD Project No. 118-11040, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the uniform guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the presentation of the basic financial statements.NOTE B - EXPENDITURESFederal Expenditures for the Mortgage Insurance Section 207 pursuant to Section 223(f) of the NationalHousing Act is the balance outstanding at year-end which was advanced pursuant to the RegulatoryAgreement and is subject to the terms of the Mortgage and Note.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 2114290.